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Stablecoin Surge: TRON Dominates, Solana Thrives in Multichain Era

10/5/2025

50 3 Full Breakdown

Summary

Multichain Stablecoin Dominance

Stablecoin activity has shifted to a multichain era, with 30 million monthly active addresses.
TRON, Solana, and Ethereum lead user adoption, with TRON dominating cross-border payments.
Solana's growth is driven by low costs and expanding DeFi options.
TRON generated $3.6 billion in annual revenue, outpacing Ethereum's $1 billion, while blockchain revenues fell 16% in September 2025; stablecoins exceed $292 billion.

History

Historical Context

Bitcoin, launched in January 2009 by the pseudonymous Satoshi Nakamoto, initiated the cryptocurrency era, addressing issues of traditional banking highlighted in its genesis block. By 2021, Bitcoin's market capitalization surpassed $1 trillion, leading to the rise of stablecoins like USDT and USDC, which collectively exceeded $292 billion, reshaping global financial systems and cross-border payments.

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Multichain Stablecoin Dominance

Stablecoin activity has shifted to a multichain era, with 30 million monthly active addresses.
TRON, Solana, and Ethereum lead user adoption, with TRON dominating cross-border payments.
Solana's growth is driven by low costs and expanding DeFi options.
TRON generated $3.6 billion in annual revenue, outpacing Ethereum's $1 billion, while blockchain revenues fell 16% in September 2025; stablecoins exceed $292 billion.

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